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Bandhan Bank IPO is a book build issue of ₹4,473.02 crores. The issue is a combination of fresh issue of 9.77 crore shares aggregating to ₹3,662.40 crores and offer for sale of 2.16 crore shares aggregating to ₹810.62 crores.
Bandhan Bank IPO bidding started from Mar 15, 2018 and ended on Mar 19, 2018. The allotment for Bandhan Bank IPO was finalized on Mar 22, 2018. The shares got listed on BSE, NSE on Mar 27, 2018.
Bandhan Bank IPO price band is set at ₹375.00 per share . The lot size for an application is 40. The minimum amount of investment required by an retail is ₹14,800 (40 shares). The lot size investment for sNII is 14 lots (560 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (2,680 shares), amounting to ₹10,05,000.
Axis Bank Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Bandhan Bank IPO RHP for detailed Information.
| IPO Date | March 15, 2018 to March 19, 2018 |
| Listing Date | March 27, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹370 to ₹375 per share |
| Issue Price Final | ₹375 per share |
| Lot Size | 40 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 11,92,80,494 shares (aggregating up to ₹4,473.02 Cr) |
| Fresh Issue | 9,76,63,910 shares (aggregating up to ₹3,662.40 Cr) |
| Offer for Sale | 2,16,16,584 shares of ₹10 (aggregating up to ₹810.62 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,09,51,41,034 shares |
| Share Holding Post Issue | 1,19,28,04,944 shares |
Bandhan Bank IPO offers total 11,92,80,494 shares. Out of which 5,96,40,246 (50.00%) allocated to QIB, 2,38,56,099 (20.00%) allocated to QIB, 1,78,92,075 (15.00%) allocated to NII, 4,17,48,173 (35.00%) allocated to RII and 3,57,84,147 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 5,96,40,246 (50.00%) | NA |
| − Anchor Investor Shares Offered | 3,57,84,147 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 2,38,56,099 (20.00%) | NA |
| NII (HNI) Shares Offered | 1,78,92,075 (15.00%) | NA |
| Retail Shares Offered | 4,17,48,173 (35.00%) | 10,43,704 |
| Total Shares Offered | 11,92,80,494 (100.00%) |
Bandhan Bank IPO opens on March 15, 2018, and closes on March 19, 2018.
| IPO Open Date | Thu, Mar 15, 2018 |
| IPO Close Date | Mon, Mar 19, 2018 |
| Tentative Allotment | Thu, Mar 22, 2018 |
| Initiation of Refunds | Fri, Mar 23, 2018 |
| Credit of Shares to Demat | Mon, Mar 26, 2018 |
| Tentative Listing Date | Tue, Mar 27, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Mar 19, 2018 |
Investors can bid for a minimum of 40 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹15,000 |
| Retail (Max) | 13 | 520 | ₹1,95,000 |
| S-HNI (Min) | 14 | 560 | ₹2,10,000 |
| S-HNI (Max) | 66 | 2,640 | ₹9,90,000 |
| B-HNI (Min) | 67 | 2,680 | ₹10,05,000 |
Incorporated in 2014, Bandhan Bank Limited is Kolkata, West Bengal based commercial bank focused on micro banking and general banking services. Bandhan Bank has a license to provide banking services pan-India across customer segments. Bank offer a variety of asset and liability products and services designed for micro banking and general banking, as well as other banking products and services to generate non-interest income.
With the a network of 2,546 doorstep service centres (DSCs) and 9.47 million micro loan customers, the bank has strong very hold in microfinance. Bandhan bank has 864 bank branches and 386 ATMs serving over 1.87 million general banking customers. Banks distribution network is strong in East and Northeast India, with West Bengal, Assam and Bihar.
Bandhan Bank Products:
1. Retail loans including micro loans, SME loans and small enterprise loans
2. Savings accounts, current accounts and a variety of fixed deposit accounts
3. Other banking products and services including debit cards, internet banking, mobile banking, EDC-POS terminals, online bill payment services and the distribution of third-party general insurance products and mutual fund products.
Bandhan Bank Strengths:
1. Operating Model Focused on Serving Underbanked and Underpenetrated Markets (microfinance)
2. Consistent Track Record of Growing a Quality Asset and Liability Franchise
3. Extensive, Low Cost Distribution Network
4. Provide accessible, simple, cost-effective and innovative financial solutions
5. Robust Capital Base
6. Maintaining focus on micro lending while expanding further into other retail and SME lending
| Particulars | For the year/period ended (in Rs. million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | ||||
| Total Assets | 302,360.90 | 197,565.00 | 5,268.88 | |||
| Total Revenue | 43,201.23 | 17,312.54 | 79.53 | |||
| Profit After Tax | 11,119.52 | 2,752.47 | 5.76 | |||
The Company Bandhan Bank IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | For augmentation of the Bank’s Tier – I capital base |
[Dilip Davda] Although current market sentiment on finance sector in doldrums, this bank has nothing of that sort and is having a niche play in micro financing where it will continue to dominate. Investment may be considered for short to long term. Read detail review...
| Listing Date | March 27, 2018 |
| BSE Script Code | 541153 |
| NSE Symbol | BANDHANBNK |
| ISIN | INE545U01014 |
| Final Issue Price | ₹375 per share |
Bandhan Bank Ltd.
DN 32, Sector V,
Salt Lake,
Kolkata 700 091
Kolkata, West Bengal
Phone: 033 6609 0909
Email: investors@bandhanbank.com
Website: https://www.bandhanbank.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: bandhanbank.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
Bandhan Bank IPO is a main-board IPO of 11,92,80,494 equity shares of the face value of ₹10 aggregating up to ₹4,473.02 Crores. The issue is priced at ₹375 per share. The minimum order quantity is 40.
The IPO opens on March 15, 2018, and closes on March 19, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Bandhan Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Bandhan Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bandhan Bank IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bandhan Bank IPO opens on March 15, 2018 and closes on March 19, 2018.
Bandhan Bank IPO lot size is 40, and the minimum amount required for application is ₹15,000.
You can apply in Bandhan Bank IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bandhan Bank IPO will be done on Thursday, March 22, 2018, and the allotted shares will be credited to your demat account by Monday, March 26, 2018. Check the Bandhan Bank IPO allotment status.
The Bandhan Bank IPO listing date is on Tuesday, March 27, 2018.
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